Description

Be prepared for the adoption of the new Accounting Standards on revenue recognition, leases and financial instruments – impacting not only financial reporting, but requiring review of contract terms, financing arrangements and business systems.

Be confident that you and your business have the resources to guide you through the preparation and presentation of financial reports for the financial year ending 30 June 2017.

Designed to complement each other, XYZ Model Financial Accounts Volume 1 - Special Purpose Financial Reporting and Volume 2 - General Purpose Financial Reporting provide users with the most comprehensive resource for the preparation and presentation of financial reports for non-reporting and reporting entities with a 30 June financial year-end.

A new “alternative presentation” listed entity model which complies with the amendments to AASB 101: Presentation of Financial Statements as part of the AASB’s disclosure initiative to present financial statements in a format which users will find easier to read and understand.

The chapter for superannuation funds, updated to reflect the requirements of AASB 1056: Superannuation Entities, which becomes mandatory at 30 June 2017 and replaces AAS 25: Financial Reporting by Superannuation Plans.

An update on the key projects in the AASB work program.

Updated in 2017:

Australian Accounting Standard and Corporations Act 2001 disclosure checklists applicable for financial years and half-years ending 30 June 2017.

All model audit reports to reflect the changes to Australian Auditing Standards as part of the new enhanced auditor reporting requirements.

Note disclosures to reflect changes to new Standards issued, but not yet effective.

Designed to be purchased together, both volumes are available in June 2017.